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[quote=”clayton”]You are right ENOUGH said, jeeessshh. thank you. Buenos![/quote]
You are welcome. Humility is one step towards enlightenment.
I came of age in the late sixties when the youth culture was perhaps one of the more starkly contrasted generations in a long while. It seemed then that the country was politically divided in such a strong manner that violence was inevitable. And violence happened. Back then, the great divide was along generational, gender and racial lines and the main catalyst was an immoral and illegal war.
Today, the divide has little to do with gender, age or race. However, the usual immoral and illegal war that empire drums up regularly for all the imperial reasons is once again a primary catalyst. Look at all the consequences and legislation that can be generated by a war and the costs of a war. It reaches everywhere.
People, regardless of gender, age or race either see who the real enemy is and always has been, or they do not. And this is what defines the two camps. You either want a government which facilitates a fair, cooperative and inclusive society, or you want a government which facilitates an elite and exclusive society of owners and slaves;the left and the right, respectively. You may not consider yourself a slave, with a a few new cars and a pool home in Boca Raton. But wait until the day arrives when you can’t take that wealth with you should you want to leave the country.
If Inflation is low, why are prices rising on Gas, Food, Precious Metals, Industrial Metals, and preety much all other raw materials
[quote=”gzeniou”]Perhaps this could be seen as a scare technique by Paul to get Americans to buy in. On the other hand, I have to agree with a lot of what he is saying including the tax rate of 60-70%. But I do think that there will be some kind of loop hole some where, The rich corporate holders want to invest outside the US just as much as we do and have course they write the laws.
However this also brings up some interesting questions for those of us that already own property in central America.
Are we going to get hit by a 30% tax if we sell the current property we own and buy another in the same foreign country?
In theory, if the IRS wants to know about our assets at some point they may want to know about our Real Estate holdings are they going to put a tax on those. Such as a luxury tax or something every year?
It just seems to be very unclear at the moment about what the future will bring.
In any event, with inflation being low and interest rates extremely low, it doesn’t hurt to slowly transfer money (less then $10,000) into CR every time you or a family member flies in. Just put your doe in a secure place and not open or have a bank account in CR with more then $10,000. This way you can have for example a $100,000 in a safety deposit box without the IRS every knowing. Another possibility is bring in $10,000 worth of gold each time, and just covert a little bit at a time when you need it. As gold should hold its value with inflation. I myself don’t know much about Gold but will look more into it.
I don’t believe that any of the above suggested is illegal or against the IRS tax code. There are probably many that don’t trust the banking system etc. in the US that simply just put their money “under their mattress”, they don’t earn anything on it. (what is the real earnings anyway? typical money markets in the US gets you 1.0% but after the IRS gets its share, is it worth it?). This is doing the same thing just in another country. The main reason we stash our money in a secure place is not to avoid any tax, its because we feel more comfortable with securing our own money then having it secured in a bank.
8)[/quote]Way to go–let the burocrats—people who get paid but produce nothing—stick it to the people who produce something, and build businesses and jobs–pretty soon we can all work for the state—YAYYYYY
Dont you understand that money goes where it is welcome–like people–and when the taxes get too high, and the rules too strict, people will just pick up and move–and then all the RICH PEOPLE that you want to stick it to are gone, great—no their are no jobs, but the burocrats still need to get payed—Way to go[quote=”sprite”]Capital Control, as far as I can tell, is not aimed at the little guy. It is aimed at the high rollers, the people and corporations that drove the US into the ditch. And just as a general principal, I always like to see the government stick it to them. People who have gotten into trouble with the IRS owing very large sums of money in unpaid taxes or hidden wealth to avoid taxes get no sympathy from me. They are the greedy rich trying to get richer, trying to join that top 2 percent of the US population which controls over 50% of the nation’s wealth.
They cry the loudest against socialism because they have the most to lose under a system which attempts to fairly spread the costs and rewards generated by a society. They are the ones who manage to exploit fellow citizens in an unregulated economic system.[/quote][quote=”kordan”]Way to go–let the burocrats—people who get paid but produce nothing—stick it to the people who produce something, and build businesses and jobs–pretty soon we can all work for the state—YAYYYYY
Dont you understand that money goes where it is welcome–like people–and when the taxes get too high, and the rules too strict, people will just pick up and move–and then all the RICH PEOPLE that you want to stick it to are gone, great—no their are no jobs, but the burocrats still need to get payed—Way to goWell said. Like the old saying goes. I never worked for a poor person.
If I may offer some insight. Several months ago, I had the pleasure of meeting two american gentlemen in Costa Rica; whom at first, I thought were merely tourists. During our endulgence of beer and protracted conversation, I mentioned to one of the men, that he resembled a friend/team member; during my Panama assignment. To make a long story short, one man was a CIA agent, the other was an IRS agent. Rest assured, there are forward operating bases for the IRS and CIA in Costa Rica.
i told you so. the cia has always had a presence here, and no doubt the irs is also fully established, despite what twin said.
The Liberia airport, several years ago, was merely a CIA airstrip. The CIA conducted central and southamerican AWACS intelligence and counter intelligence from that airstrip. Last October, while waiting for my aircraft, at the Liberia airport; I watched a CIA unmarked AWACS plane taxi for takeoff. Playing the role of Lt.Columbo, I asked a tico if he knew who that plane belonged to. The tico responded, without hesitation, the CIA. The long arm of the U.S. Government is also resting on Costa Rica. Unfortunately, the Costa Rican government is complying with all U.S. requests, to continue getting aid and support from the U.S.
[quote=”kordan”]If Inflation is low, why are prices rising on Gas, Food, Precious Metals, Industrial Metals, and preety much all other raw materials
[quote=”gzeniou”]Perhaps this could be seen as a scare technique by Paul to get Americans to buy in. On the other hand, I have to agree with a lot of what he is saying including the tax rate of 60-70%. But I do think that there will be some kind of loop hole some where, The rich corporate holders want to invest outside the US just as much as we do and have course they write the laws.
However this also brings up some interesting questions for those of us that already own property in central America.
Are we going to get hit by a 30% tax if we sell the current property we own and buy another in the same foreign country?
In theory, if the IRS wants to know about our assets at some point they may want to know about our Real Estate holdings are they going to put a tax on those. Such as a luxury tax or something every year?
It just seems to be very unclear at the moment about what the future will bring.
In any event, with inflation being low and interest rates extremely low, it doesn’t hurt to slowly transfer money (less then $10,000) into CR every time you or a family member flies in. Just put your doe in a secure place and not open or have a bank account in CR with more then $10,000. This way you can have for example a $100,000 in a safety deposit box without the IRS every knowing. Another possibility is bring in $10,000 worth of gold each time, and just covert a little bit at a time when you need it. As gold should hold its value with inflation. I myself don’t know much about Gold but will look more into it.
I don’t believe that any of the above suggested is illegal or against the IRS tax code. There are probably many that don’t trust the banking system etc. in the US that simply just put their money “under their mattress”, they don’t earn anything on it. (what is the real earnings anyway? typical money markets in the US gets you 1.0% but after the IRS gets its share, is it worth it?). This is doing the same thing just in another country. The main reason we stash our money in a secure place is not to avoid any tax, its because we feel more comfortable with securing our own money then having it secured in a bank.
8)[/quote][/quote]Keep it simple stupid, Remeber KISS, FOR SIMPLICITY SAKE! Can folks respond to this senario which must surely apply to many concidering escapeing the USA for a foreign location?
Let’s say I have cash form the sale a property in the USA $500,000 and want to buy a home or ? in Costa Rica. HOw does one normaly get that cash into CR or out of the US.
Can I wire money transfer all or a portion of that money to purchase a home? Would it be subject to this 30% tax? If one has additional income or cash and wishes to have it sent / wired monthly to Costa Rica, is it going to be taxed? How does one get money into the country. Could one take in and hold say $100,000 in travelers checks 😕Very Simple–Use stweart title and have them do it in an escrow account.
This is open for now anyway[quote=”rickcoye”][quote=”kordan”]If Inflation is low, why are prices rising on Gas, Food, Precious Metals, Industrial Metals, and preety much all other raw materials
[quote=”gzeniou”]Perhaps this could be seen as a scare technique by Paul to get Americans to buy in. On the other hand, I have to agree with a lot of what he is saying including the tax rate of 60-70%. But I do think that there will be some kind of loop hole some where, The rich corporate holders want to invest outside the US just as much as we do and have course they write the laws.
However this also brings up some interesting questions for those of us that already own property in central America.
Are we going to get hit by a 30% tax if we sell the current property we own and buy another in the same foreign country?
In theory, if the IRS wants to know about our assets at some point they may want to know about our Real Estate holdings are they going to put a tax on those. Such as a luxury tax or something every year?
It just seems to be very unclear at the moment about what the future will bring.
In any event, with inflation being low and interest rates extremely low, it doesn’t hurt to slowly transfer money (less then $10,000) into CR every time you or a family member flies in. Just put your doe in a secure place and not open or have a bank account in CR with more then $10,000. This way you can have for example a $100,000 in a safety deposit box without the IRS every knowing. Another possibility is bring in $10,000 worth of gold each time, and just covert a little bit at a time when you need it. As gold should hold its value with inflation. I myself don’t know much about Gold but will look more into it.
I don’t believe that any of the above suggested is illegal or against the IRS tax code. There are probably many that don’t trust the banking system etc. in the US that simply just put their money “under their mattress”, they don’t earn anything on it. (what is the real earnings anyway? typical money markets in the US gets you 1.0% but after the IRS gets its share, is it worth it?). This is doing the same thing just in another country. The main reason we stash our money in a secure place is not to avoid any tax, its because we feel more comfortable with securing our own money then having it secured in a bank.
8)[/quote][/quote]Keep it simple stupid, Remeber KISS, FOR SIMPLICITY SAKE! Can folks respond to this senario which must surely apply to many concidering escapeing the USA for a foreign location?
Let’s say I have cash form the sale a property in the USA $500,000 and want to buy a home or ? in Costa Rica. HOw does one normaly get that cash into CR or out of the US.
Can I wire money transfer all or a portion of that money to purchase a home? Would it be subject to this 30% tax? If one has additional income or cash and wishes to have it sent / wired monthly to Costa Rica, is it going to be taxed? How does one get money into the country. Could one take in and hold say $100,000 in travelers checks :?[/quote]I would also like to have further factual discussion regarding transferring funds back and forth. Also, the 30% that might be withheld if one transfers funds FROM Costa Rica BACK to the US are fairly close to the “middle” tax percentage for “regular” folks. My question would be, is that 30% held until one’s next tax filing and the difference refunded – or owed?
It would be helpful if someone with specific expertise could take a stab at an intelligent answer. I think it would be helpful to remember that there are probably hundreds of people who only follow this forum for practical advice on moving to and living in Costa Rica. Thanks in advance.
[quote=”maravilla”]http://www.informationclearinghouse.info/article25166.htm[/quote]
BRILLIANT find Maravilla!!……
I’m forwarding this on to lots of humans that I know.
Dan.
Thanks you so much! This is the best summary/overview I’ve ever read. Great justification for leaving ASAP!
[quote=”gzeniou”]Perhaps I am way off on this? but I’m sure there gotta be some way to get around it.[/quote]
Sure, there [b]IS[/b] an easy way around this new law. Do your banking in tne U.S. and pay the taxes that you owe.
The intent of the law is simple. It is intended to stop those who are illegally avoiding paying taxes due the government. If you are within the old law you have no worries. If your actions are to avoid paying legitimate taxes you have a problem.
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